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Wednesday, June 27, 2012

Here is the price relative scan for Wednesday: no 200 or 100 day breakouts, 4 50 day breakouts (Finviz screen here), and 10 20 day breakouts (here).

Ticker

20 day

10 day

5 day

MWIV

7

5

4

SBAC

5

5

4

TAYC

4

4

4

AKRX

4

4

4

WFM

4

4

4

AEPI

5

4

4

DVA

10

7

3

KBALB

10

6

3

TWTC

12

3

3

NLNK

7

6

3

POOL

6

6

3

ADS

5

5

3

CLDT

3

3

3

SIX

6

3

3

LNDC

4

4

3

PEBO

3

3

3

ALXN

3

3

3

DF

9

6

2

DEST

7

7

2

WWWW

7

6

2

In order to qualify as a breakout, a stock has to hit a new 200 day high in price relative no earlier than 6 days after the previous time it hit a new high, which means that stocks that repeatedly hit new highs are not picked up in the scan. That serious flaw in the logic finally occurred to me about a month ago, and I began tracking the stocks that were hitting new highs, not qualifying as breakouts, and showing strong 200 day trends in price relative. The table above contains the strongest of those stocks, ranked by the number of new highs hit in the last 5 days. I will run this table at a minimum a couple of times a week, and possibly daily if it is not too time consuming.

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About Me

I am not a financial professional, just a guy that trades my own account.
I am also not a musical professional, just a guy that makes music on the computer. Thus, two blogs, one trading and on musical.
And, no, the picture is not me, it is the late, great John Belushi, one of the inspirations for these blogs.

About ThIs Blog

This blog is focused on technical analysis of stocks and markets, putting heavy emphasis on chart analysis. My trading style is derived primarily from my mentor, William "Yoda" O'Neil, and the focus here is on leading and breakout stocks, but all forms of trading are covered to some extent. Economic and political news that effects the market are also topics here, and the blog may occasionally become a platform for my political and philosophical ranting. I keep several spreadsheets on Google docs which track various aspects of the market and readers are welcome to vies and comment on them.

Google Docs Spreadsheets

There are several spreadsheet that I maintain on Google docs to track various watchlists and trends in the market.

1. The earnings list - a group of small and micro cap, low float stocks that have exhibited recent rapid earnings growth. They are modeled along the lines of William O'Neil's CAN SLIM system, but limited to small cap, highly volatile stocks.

2. The relative strength list - a group of stocks which are near 52 week highs and have shown an increase in average daily volume. The list is limited to the top 200 stocks according to my methodology, which will be detailed on one of the pages of the spreadsheet.